Binance Cloud: The Launch of a New Product from Binance

Beginner’s Guide / 24.02.2020

Trading digital assets is a tough experience, especially when you don’t have the right mechanism in place. That is why Binance has introduced the Binance Cloud to ensure smooth and comprehensive digital transactions at any level.

The leading global blockchain ecosystem and cryptocurrency exchange company, Binance, has announced the launching of Binance Cloud. This innovation focuses on providing infrastructure solutions for partners and customers in launching digital assets liquidity, security, and exchanges leveraging Binance’s industry-leading technology.

The primary purpose of the cloud invention is to mirror Binance’s global exchange functionalities from significant data security, robust matching engine, and trading risk controls to liquidity and market depth, which was only available on Binance.com.

The History of Binance

Binance is a global cryptocurrency exchange providing a platform for over 100 cryptocurrencies. It was first launched in 2017, with its headquarters located in China. However, when the Chinese government banned cryptocurrency in the country, the offices were moved to Japan.

Changpeng Zhao launched the company as the CEO. Zhao’s input has been counted as the project’s main success due to his digital exchange experience. With his previous experience, Zhao combined skills and senses in approaching the market from a dynamic perspective, making an integral part of the cryptocurrency.

In 2017, Zhao raised $15 million, which he invested in starting the crypto-to-crypto exchange, Binance. Due to his previous position in the market, he was able to put together a working innovation. 

He also put in place fundamental points that guaranteed he delivered precisely what crypto customers wanted but were not getting from other exchanges. He overcooks the profit margin with his selflessness and dedication to creating an exchange platform geared towards profiting customers, hence Binance advancement over other blockchains.

How It Works

Binance Cloud service provides you an all-in-one solution. It features an easy to use dashboard, allowing customers to trade in pairs, manage funds, and access coin listings. It also helps create more opportunities to collaborate with the ecosystem, multilingual support, and depth-sharing with the Binance.com global exchange.

Therefore, with an easy-to-use dashboard, you will not require to include third parties’ services as you make your transactions. It also guarantees that you can convert your assets into digital liquidity at the comfort of your home.

In other words, it will offer local exchanges, local bank API integrations, future trading, and peer-to-peer (P2P) spot on the market.

With this innovation, potential exchange operators will feel relieved from the software burden of scalability and security. Therefore, it will give them more time to get the proper paperwork to enhance their business operations.

It will also offer security control, liquidity, and matching engine of the leading Binance.com exchange. This will see Binance expand its operating techniques as well as cover a broad jurisdiction.

In places where the exchange uses other local fiat currency and brands through the Binance cloud, it will be easy to synchronize this to Binance.com. Therefore Binance will gain popularity in place it does not operate or where people have little information about it.

What Makes Binance Cloud Significant?

From the launch of Binance, its existence in the crypto market has proved to be thorough luck. When it was first launched, its exchange did not allow trading fiat currencies due to strict government regulations. Later, Zhao came up with a formula that made it possible to supply infrastructure needs and serve significant market demand.

This allowed the company to add new crypto, expand its market wings, and cover a wide range, with its customer base got to three million users within six months.

Unlike other exchanges, Binance works more on building better customer service and ensuring users get what they were missing from other crypto markets.

  • Provide Security Stability

Handling digital money is a complicated experience. You have to trace your shipment and keep a record of paid funds, converted assets, and much more. Without reliable security techniques, you will easily lose money on projects that you cannot wholly trace.

However, Binance cloud records and stores every transaction you perform. Therefore, you will not be a risk of performing similar transactions twice. You will also have easy access to previous transactions, making it easy for you to calculate your money and identify whenever you made a mistake instantly.

Security also guarantees that all your financial records are secure. It also ensures that your money is secure and safe from digital fraudsters. There have been numerous attempts of hackers trying to steal funds from the Binance market.

However, with the introduction of the Binance Cloud, it is evident that every transaction is secure, and all the funds on the market are safe and away from unauthorized people.

  • Easy To Track Your Portfolio

Binance exchange ensures that you can track and monitor your portfolio from the comfort of your home. It has partnered with the crypto pro app with cloud access. Therefore, when you want to see your balances, you are sure that the app can help you get started.

The cryptocurrency market is on the verge of growth, and more opportunities are coming up to ensure it expands to maximum potential. This leads to the transformation of the existing exchange market as the demand increases. However, as investors, it may not be easy to trust all exchange markets as they open.

For this reason, the Binance exchange is working hard to ensure its market continues to grow and provide more customer satisfaction. Soon, Binance exchange could provide a cryptocurrency exchange solution and make it possible for traders for different countries and communities to make business progress. It also promises to bring the solution to other financial crises that governments might be facing and require urgent digital money facilitation.

Featured image courtesy of Binance Blog.

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Wayne is a Blockchain enthusiast and expert in crypto trading. Currently, he covers trendy issues on digital currencies.